The agreement provides ongoing funding for WORBLI’s Fintech focused product offerings
SINGAPORE, — WORBLI is pleased to announce that the WORBLI Foundation (“Foundation”) has entered into an Asset Purchase Agreement (the “APA”) concerning the proposed acquisition of 100% of its assets by AmaZix Capital Limited (“AmaZix Capital”) and 0rigin Ventures (“0rigin”) in return for ongoing funding and development capital.
The acquisition will be completed upon satisfaction of conditions precedents. The transaction will allow WORBLI to accelerate the deployment of its proprietary Know Your Customer (“KYC”) and Anti-Money Laundering (“AML”) offering to the FinTech and Digital Asset sectors, concurrently with the commercialisation of the tokenised security technology native to the WORBLI blockchain.
Transaction Highlights
- The transaction encompasses 100% of WORBLI’s assets including 10% of WORBLI Utility tokens (“WBI”) in circulation which will be subject to a lock-up period spanning 6 years
- The transaction will secure funding and resources for the WORBLI Foundation to uphold administrative and customer support for the blockchain and for the promotion of WORBLI’s institutional product offering
- This expanded and accelerated roll out of WORBLI technology will allow for faster commercial adoption of the chain
About WORBLI
WORBLI’s (worbli.io)
mission is to develop the world’s most cost-effective and
developer-friendly consumer and enterprise blockchain platform. WORBLI
is offering users, developers, and businesses an ecosystem with
compliance at its heart thanks to integrated KYC, AML watchlist and
transaction monitoring capabilities. Powered by EOSIO, WORBLI delivers,
fast, compliant and secure applications, products and services. WORBLI
provides the possibility for any FinTech or Digital Asset platform,
operating in any environment, to integrate KYC / AML functionality at
significantly reduced marginal costs. While providing users with an easy
and speedy way to onboard. WORBLI’s proprietary Registry Framework
store’s information by client type. This enables the ability to identify
Professional Clients, providing a platform to facilitate the promotion
of tokenized securities offerings within the boundaries established by
financial promotion rules and regulations. WORBLI’s solution for storing
client data is highly secure and compliant with GDPR.
Strategy Going Forward
New regulations
such as the EU’s Fifth Anti-Money Laundering Directive (AMLD 5), recent
FCA regulations and guidelines of the Financial Action Task Force (FATF)
establish unambiguously that the vast majority of Digital Asset or
crypto platforms must implement KYC and AML procedures. WORBLI’s
immediate goal is to assist in this sector-wide implementation providing
the most cost effective, seamless and scalable solution available in
the market to both platforms and users. In parallel with this deployment
strategy, WORBLI aims to grow its presence within FinTech with a
particular focus on those platforms able to leverage WORBLI built-in KYC
data with the opportunities presented by European Open Banking. WORBLI
will continue to build out its solutions for tokenised securities
leveraging the unique features of its blockchain.
About AmaZix Capital
AmaZix Capital
(www.amazix.capital) is a firm focused on advising
groundbreaking technology innovators in strategic and corporate finance
matters. AmaZix Capital offers services ranging from consulting on
corporate projects in relation to Distributed Ledger Technology (“DLT”)
and providing expert advice on token economics (“Tokenomics”), to
helping promising existing and new ventures find growth capital. AmaZix
Capital’s partners include several senior bankers with a long track
record in Financial Institutions M&A and Capital Markets advisory as
well as Special Situations. AmaZix Capital’s Special Situations Group
is managed in a joint venture with 0rigin.
About 0rigin
0rigin is a next generation
venture capital business built for the Blockchain Asset Class. In
addition to the team’s strengths and experience across global capital
markets, it includes the team from EOS Titan as co-founders delivering
deep and broad knowledge of system architecture, software development
and blockchain technologies. It deploys multiple strategies as
principal across the DLT spectrum from liquid arbitrage trading through
to distressed restructuring opportunities. 0rigin has advised WORBLI
since the outset on various strategic matters and built the WORBLI
Resource Model underpinning the WBI Token. 0rigin built and owns the
resource derivatives model UtilityX that is launching in Q1 on WORBLI
and EOS blockchains designed to bring pricing efficiency and discovery
to Blockchain resources. UtilityX has also developed an innovative token
protocol to host third party products in its resource environment as
well as resource management arrangements with various strategic
partners.
“When we started this journey, our job was to identify and develop the key components that traditional Financial Markets would require to even consider looking at DLT as a practical solution to its evolution. The road we took was lonely as the only blockchain network to implement KYC in the base protocol, but the strength of our conviction brought us to this transaction and a huge step forward in turning our vision into reality. Whilst 0rigin have supported us throughout, the addition of AmaZix Capital to WORBLI brings multi-dimensional growth potential that was beyond any of our wildest expectations. I am honoured to be part of what was achieved and those achievements yet to come.”
Domenic Thomas, CEO WORBLI
This Announcement is being provided to you for information purposes only.
The information contained herein does not constitute an offer or solicitation to sell or acquire any security or fund the acquisition of any security by anyone in any jurisdiction, nor should it be regarded as a contractual document. Under no circumstances should the information provided in this Announcement or any other written or oral information made available in connection with it be considered as investment advice, or as a sufficient basis on which to make investment decisions.
SOURCE WORBLI
CONTACT: Contact details for more information: 0rigin: [email protected]; AmaZix: [email protected]
